- Shiba Inu price prediction suggests the consolidation phase of SHIB token after breaking out of an interesting falling pattern.
- SHIB crypto has recovered above 20, 50, 100 and 200-days Daily Moving Average.
- Analysts from different organizations speculate and the SHIB army believes that there are ways for SHIB crypto to recover itself towards $0.1.
Shiba Inu price prediction suggests that SHIB cryptocurrency has been trying to skip this consolidation phase over the daily time frame chart. However, trading volume can be seen below average suggesting the lower accumulation rate. SHIB crypto might surge towards $0.1 level as soon as it recovers itself back on track after breaking out of the consolidation phase.
Shiba Inu price was at $0.0000114 and has lost 2.96% of its market capitalization during the day’s trading session. Trading volume has decreased by 33% during the intraday trading session. This demonstrates that sellers are trying to pull SHIB crypto towards the lower price range of the consolidation phase.
Shiba Inu price prediction showcases the SHIB crypto’s consolidation phase over the daily time frame chart. However, volume change is still below average and needs to grow for SHIB crypto to surge towards its recovery. Meanwhile, SHIB crypto has recovered above 20, 50, 100 and 200-days Daily Moving Average.
Volume to market cap ratio is at 0.03469.
Shiba Inu Burn Rate has Soared by 276%
The price of the Shiba Inu must go through a procedure before it may rise to $0.1. The success of the token depends on Shiba Inu’s ongoing and future developments, which also can present an opportunity to showcase the SHIB army’s global potential. However, using a second and final technique that entails sharply and exponentially raising its burn rate, SHIB can recover to $0.1. Shibburn reports that 410,384,897,244,705 SHIB memecoins have been transferred to non-suspendable wallets, resulting in a 276% increase in the burn rate of SHIB tokens.
Will Shiba Inu Price Retain Uptrend Momentum?
According to technical indicators, the Shiba Inu price has been trending downward on the daily time frame chart. On the daily time frame chart, the relative strength index shows a significant downtrend momentum. At 57, the RSI is moving in the direction of neutrality.
The MACD shows the SHIB cryptocurrency’s strong downward velocity. After a negative crossover, the MACD line is lower than the signal line. As soon as the token exits the consolidation phase, SHIB army may see the Shiba Inu price climb toward $0.1 and keep itself above the falling triangle pattern.
Summary
Shiba Inu price prediction suggests that SHIB cryptocurrency has been trying to skip this consolidation phase over the daily time frame chart. The price of the Shiba Inu must go through a procedure before it may rise to $0.1. The success of the token depends on Shiba Inu’s ongoing and future developments, which also can present an opportunity to showcase the SHIB army’s global potential. At 57, the RSI is moving in the direction of neutrality. The MACD shows the SHIB cryptocurrency’s strong downward velocity. After a negative crossover, the MACD line is lower than the signal line.
Technical Levels
Support Levels: $0.000011 and $0.000010
Resistance Levels: $0.0000122 and $0.000015
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
